Common use of Substitution Right Clause in Contracts

Substitution Right. Unless a Default has occurred and is continuing, in the event that any Lender (an “Affected Lender”), (i) makes a claim under clause (b) or (c) of Section 2.16, (ii) notifies the Administrative Agent pursuant to Section 2.15(b) that it becomes illegal for such Lender to continue to fund or make any Loan, (iii) makes a claim for payment pursuant to Section 2.17(b) or Section 2.17(d), (iv) becomes a Non-Funding Lender, or (v) does not consent to any amendment, waiver or consent to any International Loan Document for which the consent of the Required Lenders is obtained but that requires the consent of other Lenders, the Borrower may either pay in full such Affected Lender with respect to amounts due with the consent of the Administrative Agent or substitute for such Affected Lender any Lender or any Affiliate or Approved Fund of any Lender or any other Person reasonably acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent (in each case, a “Substitute Lender”).

Substitution Right. Unless a Default has occurred and is continuing, in In the event that any Lender that is not an Affiliate of Administrative Agent (an “Affected Lender”), (i) makes a claim under clause (b) or (c) of Section 2.163.2, (ii) notifies the Administrative Agent Borrower pursuant to Section 2.15(b2.17(b) that it becomes illegal for such Lender to continue to fund or make any LoanEurodollar Loan in the Facility, (iii) makes a claim for payment pursuant to Section 2.17(b) or Section 2.17(d2.17(a), (iv) becomes a Non-Funding Lender, Defaulting Lender or (v) does not consent to any amendment, waiver or consent to any International Loan Document for which the consent of the Required Lenders is obtained but that requires the consent of other Lenders, the Borrower may either pay in full such Affected Lender with respect to amounts due with the consent of the Administrative Agent or substitute for such Affected Lender any Lender or any Affiliate or Approved Fund of any Lender or any other Person reasonably acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent (in each case, a “Substitute Lender”).

Substitution Right. Unless a Default has occurred and is continuing, in In the event that any Lender that is not an Affiliate of the Administrative Agent (an “Affected Lender”), (i) makes a claim under clause (bSection 2.13(b) or (c) of Section 2.16), (ii) notifies the Administrative Agent Borrowers pursuant to Section 2.15(b2.12(b) that it becomes illegal for such Lender to continue to fund or make any Loan, (iii) makes a claim for payment pursuant to Section 2.17(b) or Section 2.17(d2.14(b), (iv) becomes a Non-Funding Lenderfails to fund its portion of the Commitment as required hereunder, or (v) does not consent to any amendment, waiver or consent to any International Loan Document for which the consent of the Required Lenders is obtained but that requires the consent of other Lenders, the Borrower Borrowers may either pay in full such Affected Lender with respect to amounts due with the consent of the Administrative Agent or substitute for such Affected Lender any Lender or any Affiliate or Approved Fund of any Lender or any other Person reasonably acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent (in each case, a “Substitute Lender”).

Substitution Right. Unless a Default has occurred and is continuing, in the event that any Lender (an “Affected Lender”), (i) makes a claim under clause (b) or (c) of Section 2.16, (ii) notifies the Administrative Agent pursuant to Section 2.15(b) that it becomes illegal for such Lender to continue to fund or make any Loan, (iii) makes a claim for payment pursuant to Section 2.17(b) or Section 2.17(d), (iv) becomes a Non-Funding Lender, or (v) does not consent to any amendment, waiver or consent to any International Loan Document for which the consent of the Required Lenders is obtained but that requires the consent of other Lenders, the Borrower may either pay in full such Affected Lender with respect to amounts due with the consent of the Administrative Agent or substitute for such Affected Lender 42 any Lender or any Affiliate or Approved Fund of any Lender or any other Person reasonably acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent (in each case, a “Substitute Lender”).